Lojas Americanas Completes Local Bond

Lojas Americanas Completes Local Bond

July 26, 2013

Brazilian retailer Lojas Americanas has finalized the placement of BRL400m ($178m) in domestic bonds, it says. A BRL155m 2018 tranche pays 112.0% of the DI, in line with a price ceiling, and amortizes in equal parts at the end of each of the final two years. A BRL45m 2019 tranche pays 112.55% of the DI, inside of a 113.25% ceiling, and amortizes in equal parts at the end of each of the final two years. A BRL200m 2021 inflation-linked tranche pays 6.39%, and amortizes in equal parts at the end of each of the final three years. Lojas Americanas is raising funds to improve its debt profile. Itau arranged the transaction, done under the rule 476 restricted format. The issuer is rated A+ on national scale.

Brazilian retailer Lojas Americanas has finalized the placement of BRL400m ($178m) in domestic bonds, it says. A BRL155m 2018 tranche pays 112.0% of the DI, in line with a price ceiling, and amortizes in equal parts at the end of each of the final two years. A BRL45m 2019 tranche pays 112.55% of the DI, inside of a 113.25% ceiling, and amortizes in equal parts at the end of each of the final two years. A BRL200m 2021 inflation-linked tranche pays 6.39%, and amortizes in equal parts at the end of